CFG Bank continues its strong growth trajectory, reporting a net income of 262 million dirhams (MDH) in 2024, a 58% increase compared to the previous year. Analysts attribute this impressive performance to a positive momentum across all banking segments, particularly in credit production and deposit collection.
At its board meeting on Wednesday, CFG Bank reviewed its financial results, highlighting a strong increase in outstanding loans, which reached 15.4 billion dirhams (MMDH), up 28%. This growth was largely fueled by the corporate lending segment, with a net loan production of 3.4 MMDH.
The bank’s net banking income (NBI) also showed significant progress, rising 38% to 781 MDH. This increase was driven by interest margins and commissions, as well as strong performances in brokerage services, bond trading, equities, and corporate finance, which generated 161 MDH in revenue, up from 92 MDH in 2023. The surge was supported by a particularly active bond and equity market in 2024.
Amid this high-growth phase, the gross operating income (GOI) continued to expand, despite higher expenses linked to the bank’s investment expansion strategy.
In line with its stable dividend policy, CFG Bank’s board of directors has proposed a dividend payout of 3.30 dirhams per share, the same as the previous year, pending regulatory approval. The dividend payment is scheduled for June 2025.
